New Study: Automated Storage and Retrieval System (ASRS) Market - Global forecast to 2022
Fast Market Research recommends "Automated Storage and Retrieval System (ASRS) Market - Global forecast to 2022" from Markets and Markets, now available
[ClickPress, Fri Jul 15 2016] Automated Storage and Retrieval System (ASRS) Market by Type (Unit Load, Mini Load, VLM, Carousel, Autostore, & Mid load), Function (Assembly, Storage, Order picking, Kitting, & Distribution), Industry, and Geography - Global forecast to 2022
The global automated storage and retrieval systems (ASRS) market is expected to reach USD 8.43 billion by 2022, at a CAGR of 7.1% between 2016 and 2022. Manufacturers are increasingly adopting ASRS because of the rising costs of labor in warehouses and distribution centers. ASRS provides users with increased inventory control and tracking, reduces labor costs, lowers workforce requirements, increases workplace safety, minimizes the risk of accident during product handling, increases the efficiency of plant & distribution centers, reduces damage to products, and decreases the overall cost.
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'E-commerce industry to exhibit highest growth during the forecast period'
The ASRS market is segmented on the basis of industry into automotive, food & beverages, chemical, electronic & semiconductor, metal & machinery, e-commerce, aerospace, healthcare, 3PL, and textile. Of these industries, the market for the e-commerce industry is expected to grow at the highest rate because of the increasing pressure on manufacturers and distributors to ship the products in the shortest possible time to ensure faster delivery to consumers.
"Europe held the largest share of the ASRS market in 2015"
Europe held the largest share of the global ASRS market. This market is driven by various factors such as high degree of accuracy, improved efficiency, high-throughput inventory management capabilities, and increasing demand for technologically advanced ASRS in the region.
The ASRS market in APAC is expected to grow at the highest rate. The increasing popularity and superior results of automated systems encourage more companies in APAC to increase the deployment of ASRS.
The breakup of primaries conducted during the study is depicted below:
By Company Type: Tier1 Companies - 50%, Tier 2 Companies - 33%, and Tier 3 Companies - 17%
By Designation: C-level Executives - 34%, Directors - 33%, and Others- 33%
By Region: Europe - 50%, North America - 33%, and Asia-Pacific- 17%
The key players in the ASRS market are Daifuku Co., Ltd. (Japan), Kardex Group (Switzerland), Murata Machinery, Ltd. (Japan), Swisslog Holding AG (Switzerland), Mecalux S.A. (Spain), SSI Schaefer Group (Germany), Vanderlande Industries B.V. (Netherlands), Dematic GmbH & Co. Kg, (Germany), and Bastian Solutions, LLC (U.S.).
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* This report includes the market statistics pertaining to type, function, industry, and geography along with their respective market size.
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